How does Vortex work?
This page provides a deeper look into how Vortex will function.
Step 1: Selecting and Securing Gaming Assets
After logging in, users of the Vortex platform are immediately shown the assets held in their off-chain gaming ecosystem accounts, encompassing a variety of gaming assets, skins, and currencies. These can include rare and sought-after items from well-known games and ecosystems, such as Counter-Strike 2 or Steam. Once the user selects which asset/skin to tokenize, the assets are securely transferred to our digital off-chain Vault. This step involves a comprehensive verification process to confirm the authenticity and rightful ownership of each asset, a crucial part of what we term Inbound Tokenization.
Step 2: Tokenization into NFTs
Once an asset is secured in the Vault, MetaZero tokenizes it into OFTs and/or ONFTs depending on the asset type. These serve as an on-chain representation of the off-chain (original) gaming asset. It is meant to carry and track the value of the original asset, effectively turning it into a tradable and investable item on the blockchain.
Step 3: NFTs as Investment Vehicles
These NFTs are not just digital collectibles; they are investment vehicles. By holding the NFT, investors essentially own a stake in the underlying gaming asset. This approach allows for both investing in and trading these assets.
Step 4: Trading and Investment Opportunities
Once tokenized, these NFTs can be traded on various platforms, providing ample opportunities for investors to buy, sell, or hold them based on their investment strategies. The value of each NFT is linked to the market demand and rarity of the underlying gaming asset, offering dynamic investment potential. An enforced trading royalty of 5% will be applied which will then be used to purchase additional gaming assets and $MZERO off the market to be placed in the treasury for future community events such as airdrops and burns.
Step 5: Accessibility and Liquidity
MetaZero's protocol will ensure that these NFTs are accessible to a wide range of investors, not just gamers. The aim is to provide liquidity in the market, making it easier for investors to enter and exit positions, just as they would in traditional financial markets. his objective underpins our decision to build upon LayerZero, which facilitates ease of trading on any chain chosen by the user.
Step 6: Asset Redemption
These tokenized assets are first and foremost meant to be used as investment vehicles and not recommended or meant to be redeemed back to underlying asset for gaming purposes. However, the tokenized asset can still be converted to it's underlying gaming asset through a process of redemption on the platform - this is referred to as Outbound Tokenization. This will incur an outbound platform taxable event (flat fee) as the assets are being redeemed to the original asset.
In summary, MetaZero's innovative approach transforms coveted gaming assets into NFTs, creating a new class of investment assets. This process democratizes access to these assets, enabling broader participation and opening up new investment frontiers by unlocking a $50+ billion traditional gaming asset market.
Interacting with any of MetaZero's products or tokens may or may not yield future rewards distributed by MetaZero and/or its partners.
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